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Summit to invest $5b in infrastructure in 5 years

Summit Group will invest $5 billion in various projects in Bangladesh in the next five years to meet the country’s growing appetite for infrastructure.

Of the investment, $3 billion will flow to the energy and power sectors and $1 billion each to the digital infrastructure and the ports and shipping sectors.

With 8 percent GDP growth and a population of 170 million, Bangladesh needs 40,000 megawatts to 50,000 megawatts of electricity by 2030, which is more than double the present installed capacity, Muhammed Aziz Khan, the chairman of the infrastructure conglomerate, said.

“This gives us a tremendous growth opportunity,” he told The Daily Star in an interview recently. He added that Bangladesh’s infrastructure is still at the rudimentary level.

Around 60 percent of the planned investment will come from Summit’s new shareholder JERA, the largest energy company in Japan.